Industrial CHP optimal management in the energy market under incomplete information

Author

Uuemaa, P. ; Drovtar, I. ; Kilter, J. ; Vigants, Haralds ; Blumberga, Dagnija ; Puusepp, Allan

Author_Institution

Dept. El. Power Eng., Tallinn Univ. of Technol., Tallinn, Estonia

fYear

2014

fDate

20-23 May 2014

Firstpage

383

Lastpage

387

Abstract

This paper investigates the possibilities how to optimize the industrial combined heat and power plant (CHP) daily operations and decision making process. The aim of the paper is to develop a method for an economic optimization of the industrial CHP. The method takes into account the industrial production together with an energy production in order to maximize the global profit for the entire facility. The method utilizes the electricity spot market price variation for the benefit of the market participant.

Keywords

cogeneration; decision making; optimisation; power markets; power system management; combined heat and power plant; decision making process; electricity spot market price variation utilization; energy market; energy production; global profit maximization; industrial CHP economic optimization; industrial CHP optimal management; market participant benefit; Cogeneration; Electricity; Electricity supply industry; Optimization; Production facilities; combined heat and power plant; demand side management; energy efficiency; industrial processes;

fLanguage

English

Publisher

ieee

Conference_Titel

Innovative Smart Grid Technologies - Asia (ISGT Asia), 2014 IEEE

Conference_Location

Kuala Lumpur

Type

conf

DOI

10.1109/ISGT-Asia.2014.6873822

Filename

6873822